CONDENSED BALANCE SHEETS - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Current Assets:
Cash and Cash Equivalents	$ 5,518,799	$ 6,486,098
Accounts Receivable, Net	33,945,067	35,840,042
Advances to Operators	1,178,400	1,577,204
Prepaid and Other Expenses	2,472,317	1,584,129
Derivative Instruments	3,671,684	4,517
Income Tax Receivable	1,402,179	1,402,179
Total Current Assets	48,188,446	46,894,169
Oil and Natural Gas Properties, Full Cost Method of Accounting
Proved	2,456,816,317	2,428,595,048
Unproved	1,704,682	2,623,802
Other Property and Equipment	977,349	977,349
Total Property and Equipment	2,459,498,348	2,432,196,199
Less – Accumulated Depreciation, Depletion and Impairment	(2,068,695,690)	(2,055,987,766)
Total Property and Equipment, Net	390,802,658	376,208,433
Derivative Instruments	2,058,303	0
Deferred Income Taxes (Note 9)	0	0
Other Noncurrent Assets, Net	8,195,320	8,430,359
Total Assets	449,244,727	431,532,961
Current Liabilities:
Accounts Payable	64,204,150	56,146,847
Accrued Expenses	4,721,006	6,094,938
Accrued Interest	18,666,667	4,682,894
Derivative Instruments	408,822	10,001,564
Asset Retirement Obligations	586,821	517,423
Total Current Liabilities	88,587,466	77,443,666
Long-term Debt, Net	823,450,676	832,625,125
Derivative Instruments	0	1,738,329
Asset Retirement Obligations	7,145,410	6,990,877
Other Noncurrent Liabilities	151,473	156,632
Total Liabilities	919,335,025	918,954,629
Commitments and Contingencies (Note 8)
STOCKHOLDERS’ DEFICIT
Preferred Stock, Par Value $.001; 5,000,000 Authorized, No Shares Outstanding	0	0
Common Stock, Par Value $.001; 142,500,000 Authorized (3/31/2017 – 63,382,575 Shares Outstanding and 12/31/2016 – 63,259,781 Shares Outstanding)	63,383	63,260
Additional Paid-In Capital	444,285,756	443,895,032
Retained Deficit	(914,439,437)	(931,379,960)
Total Stockholders’ Deficit	(470,090,298)	(487,421,668)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT	$ 449,244,727	$ 431,532,961